Short Interest in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Declines By 14.2%

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 127,900 shares, a drop of 14.2% from the August 15th total of 149,100 shares. Based on an average daily volume of 50,400 shares, the short-interest ratio is currently 2.5 days. Currently, 1.0% of the shares of the stock are sold short.

Burke & Herbert Financial Services Stock Up 2.9 %

BHRB stock traded up $1.87 during midday trading on Tuesday, reaching $67.06. The company had a trading volume of 4,207 shares, compared to its average volume of 31,180. The company has a 50 day moving average of $62.17 and a two-hundred day moving average of $55.28. The company has a market capitalization of $995.71 million and a P/E ratio of 8.00. Burke & Herbert Financial Services has a 1 year low of $42.91 and a 1 year high of $70.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. The business had revenue of $69.27 million for the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.16%. Burke & Herbert Financial Services’s dividend payout ratio is 26.01%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insider Activity

In related news, Director Gary L. Hinkle purchased 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the acquisition, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $29,000. Fortitude Family Office LLC lifted its position in shares of Burke & Herbert Financial Services by 1,666.0% in the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Burke & Herbert Financial Services by 6.9% during the 2nd quarter. Moors & Cabot Inc. now owns 28,872 shares of the company’s stock worth $1,472,000 after acquiring an additional 1,851 shares in the last quarter. LSV Asset Management bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $108,000. Finally, Truist Financial Corp acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $202,000.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.